(MENAFN) Better.com, an American digital lender company, experienced a collective staff lay off by its chief executive during a Zoom meeting.
Vishal Garg, chief executive of Better.com stated on the December 1 meeting, “If you are on this call, you are part of the unlucky group that is being laid off.” An employee posted the video on YouTube.
The chief executive continued to say, “Your employment here is terminated effective immediately,” as he explained the reasons behind this dismissal to be the awful market circumstances and a decrease in the firm’s activity.
As reported by TechCrunsh, in May, SoftBank-backed debt lender stated it was experiencing a unique purpose acquisition firm and in the past week it obtained USD750 million as part of the agreement.
Mr Ryan, the chief financial officer, reported in a declaration to CNN Business, “Having to conduct layoffs is gut wrenching, especially this time of year,” adding “however a fortress balance sheet and a reduced and focused workforce together set us up to play offence going into a radically evolving home ownership market.”
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